Management Transition Announced at Summit Hotel Properties, CFO Departing for Personal Reasons

Summit Hotel Properties Announces Management Transition

On June 12, 2026, Summit Hotel Properties, Inc. (NYSE: INN) made an important announcement concerning its executive leadership. William "Trey" Conkling, the Executive Vice President and Chief Financial Officer, has decided to depart from the company effective June 15, 2026. This decision is based on personal reasons, and it comes after his valued five-year tenure at Summit.

Jonathan Stanner, the President and Chief Executive Officer of Summit Hotel Properties, expressed appreciation for Mr. Conkling's contributions during his time with the company. In his remarks, Stanner acknowledged, "Trey has been a valued member of our executive leadership team... we appreciate his many contributions to Summit during his tenure." It is clear that Mr. Conkling's leadership was instrumental in guiding the company through various challenges and successes in the competitive hospitality industry.

In his farewell statement, Conkling reflected on his experience at Summit, stating, "It has been a pleasure to work at Summit for the past five years and I am proud of all that we have accomplished together. I am grateful for the opportunity to have worked with such a dedicated team." Showing his commitment to a smooth transition, he has agreed to remain available in an advisory role until September 30, 2026. This decision underscores his dedication to ensuring the company maintains its momentum and stability during this change.

To facilitate the search for Conkling's successor, Summit Hotel Properties has engaged a nationally recognized search firm. In the interim, CEO Jonathan Stanner will temporarily take on the responsibilities of the principal financial officer, continuing to lead the company effectively during this transitional period.

Importantly, the company has clarified that Conkling's departure is not due to any disagreements or conflicts regarding the company's operations, policies, or financial practices. This transparency is vital for maintaining investor confidence and showcasing the company’s healthy operational environment.

Summit Hotel Properties is recognized as a publicly traded real estate investment trust that primarily focuses on premium branded lodging properties. As of the announcement date, the company boasts a diversified portfolio comprising 94 assets located across 24 states, with 52 of these properties fully owned and a total of 14,226 guest rooms. The company aims to leverage its operating models to enhance performance within the upscale segment of the lodging industry.

As the search for a new CFO commences, the team at Summit Hotel Properties remains confident in their strategic direction and operational capabilities. The company is not only poised to handle this transition but is also continuously focused on delivering value to its shareholders and providing exceptional hospitality experiences for its guests.

For more information, you can visit their official website at www.shpreit.com or follow them on social media at @SummitHotel_INN.

This transition signifies not just a change in leadership, but also an opportunity for the company to reflect on its goals and aspirations moving forward. Stakeholders and employees alike will be keenly observing who will be selected as the next CFO to steer Summit Hotel Properties into its next chapter.

In conclusion, while management transitions can sometimes create uncertainty, Summit Hotel Properties is demonstrating a proactive approach towards ensuring continuity and stability. With its strong portfolio, dedicated team, and strategic focus, the future looks bright for Summit as it embarks on this new journey.